EddieJayonCrypto

 5 Jan 25

tl;dr

Thomas Barkin, President of the Federal Reserve Bank of Richmond, warns of a higher risk of inflation in 2025 due to potential wage and price pressures. He advocates for a more restrictive approach to interest rates. The current federal funds rate is 4.33%, and the Federal Open Market Committee is s...

Thomas Barkin, President of the Federal Reserve Bank of Richmond, warns of higher inflation risk in 2025 due to potential wage and price pressures, advocating for longer-lasting restrictive measures. The current federal funds rate is 4.33%, and the Federal Open Market Committee is set to meet on January 28th.

A WalletHub survey shows that 56% of Americans are most worried about inflation this year. Barkin expressed his concerns about the potential for higher inflation during a speech at the Maryland Bankers Association in Baltimore, noting that there is more upside risk than downside risk to inflation. He emphasized the need for a more restrictive approach to interest rates, given the possibility of higher wages and other price pressures. Barkin also indicated expectations for more growth and potential inflation risks, as well as a job market leaning toward hiring rather than firing.

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